Wealth Alliance Purchases Shares of 1,748 Mid-America Apartment Communities, Inc. (NYSE:MAA)

Wealth Alliance purchased a new stake in shares of Mid-America Apartment Communities, Inc. (NYSE:MAA) in the 4th quarter, Holdings Channel reports. The fund purchased 1,748 shares of the real estate investment trust’s stock, valued at approximately $235,000.

Other hedge funds have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in Mid-America Apartment Communities during the 3rd quarter valued at $35,000. Quarry LP increased its position in Mid-America Apartment Communities by 186.5% during the 1st quarter. Quarry LP now owns 275 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 179 shares during the period. CVA Family Office LLC bought a new position in Mid-America Apartment Communities during the 4th quarter worth $40,000. First Financial Corp IN increased its position in Mid-America Apartment Communities by 40.8% during the 4th quarter. First Financial Corp IN now owns 297 shares of the real estate investment trust’s stock worth $40,000 after buying an additional 86 shares during the period. Finally, Emfo LLC bought a new position in Mid-America Apartment Communities during the 4th quarter worth $40,000. Institutional investors and hedge funds own 93.60% of the company’s stock.

Mid-America Apartment Communities Stock Performance

Shares of MAA stock opened at $124.62 on Friday. The business’s 50-day moving average price is $128.88 and its 200-day moving average price is $128.64. Mid-America Apartment Communities, Inc. has a 12 month low of $115.56 and a 12 month high of $158.46. The firm has a market capitalization of $14.55 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 2.80 and a beta of 0.80. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.72.

Mid-America Apartment Communities (NYSE:MAA) last announced its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.93). Mid-America Apartment Communities had a net margin of 25.73% and a return on equity of 8.74%. The firm had revenue of $542.25 million for the quarter, compared to analyst estimates of $542.64 million. During the same period in the previous year, the business posted $2.32 earnings per share. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Mid-America Apartment Communities, Inc. will post 8.92 EPS for the current year.

Mid-America Apartment Communities Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Monday, April 15th will be paid a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Friday, April 12th. Mid-America Apartment Communities’s payout ratio is 124.84%.

Analyst Ratings Changes

Several research firms have weighed in on MAA. Piper Sandler reiterated a “neutral” rating and set a $140.00 price objective on shares of Mid-America Apartment Communities in a research report on Tuesday, March 26th. Scotiabank upgraded Mid-America Apartment Communities from a “sector underperform” rating to a “sector perform” rating and raised their price target for the stock from $133.00 to $147.00 in a research report on Tuesday, January 16th. Royal Bank of Canada restated a “sector perform” rating and issued a $136.00 price target on shares of Mid-America Apartment Communities in a research report on Friday, February 9th. Jefferies Financial Group restated a “hold” rating and issued a $136.00 price target (down previously from $140.00) on shares of Mid-America Apartment Communities in a research report on Tuesday, January 2nd. Finally, Mizuho decreased their price target on Mid-America Apartment Communities from $132.00 to $126.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $143.18.

Insider Activity

In other news, CEO H Eric Bolton, Jr. sold 2,642 shares of Mid-America Apartment Communities stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $126.07, for a total transaction of $333,076.94. Following the sale, the chief executive officer now directly owns 317,737 shares of the company’s stock, valued at $40,057,103.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 2,807 shares of company stock valued at $353,955. 1.33% of the stock is currently owned by corporate insiders.

About Mid-America Apartment Communities

MAA, an S&P 500 company, is a real estate investment trust (REIT) focused on delivering full-cycle and superior investment performance for shareholders through the ownership, management, acquisition, development and redevelopment of quality apartment communities primarily in the Southeast, Southwest and Mid-Atlantic regions of the United States.